Because of the nature of my set up, I tend to record one instrument at a time. Sometimes its drum machine first, sometimes guitar, sometimes even bass, although usually to a click. Depends what I am trying to achieve. My recordings tend to be simple sketch demos for my own compositions but I have had some success with recording whole bands (see Clandestino on my soundcloud page). My favourite recordings are live recordings of great players playing great, particularly acoustic instruments. Hours spent knobbing about with sequencers etc are, in my experience, pretty unrewarding and I prefer proper mic placement and real players anytime. I do enjoy recording solo bass though; me, a double bass and a Rode NT1-A microphone. Simple